Mastercard sees ‘continued healthy customer spending’

Shares of Mastercard are 2.7% higher pre-market after reporting earnings and revenues that beat expectations. More importantly, the company highlighted that it wasn’t seeing a slowdown from consumers.

Revenues of 7.00 billion compared to 6.85 billion expected and earnings were $3.59 vs $3.51 expected.

We delivered another strong quarter across all aspects of our business with double-digit net revenue and
earnings growth,” said Michael Miebach, Mastercard CEO. “This was supported by continued healthy consumer
spending, robust cross-border volume growth of 17%.”

Purchase volume increased by 10% on a local currency basis and the numbers show a healthy appetite for travel. The regional breakdown shows positive GDV growth across all major regions, including the United States (6.4%), Europe (14.3%), Latin America (16.5%), and Canada (5.8%).

The company also does not see slowing ahead with 2024 revenue growth forecast in the ‘low double digits’.

I’ll keep an eye on the conference call for any macro headlines.

This article was written by Adam Button at www.forexlive.com.